Nearly 7 in 10 Americans Say Their Incomes Have Taken a Hit from the Pandemic

May 7, 2020

Nearly 7 in 10 Americans (69%) surveyed between April 23 and April 27 said that their family incomes have been reduced during the coronavirus outbreak, and 93% agree that the virus will impact America’s economy “a lot” in the short or long term.

The latest Financial Times-Peterson Foundation US Economic Monitor, released on May 7, 2020, reveals that the coronavirus pandemic is financially impacting the vast majority of Americans, and there is broad-based support for federal response measures, including a number of components of the CARES Act.

Nearly 7 in 10 Americans Say Their Incomes Have Already Taken a Hit from the Pandemic

As this pandemic continues to significantly impact Americans' health and the economy, and as lawmakers consider additional support or stimulus policies to address the crisis, the FT-Peterson Monitor will continue to track public impact and sentiment in 2020.

“The coronavirus outbreak is an unprecedented national emergency, and we need to respond aggressively to address both the public health crisis and the economic risk,” as Michael Peterson, CEO of the Peter G. Peterson Foundation said in a recent statement. “By acting quickly and strategically, we can improve the response and reduce suffering, especially among vulnerable populations.”

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Tweet: More than half of Americans think it will take a year or longer for the U.S. economy to recover from the impact of the #coronavirus, according to a new @FT & @PGPFoundation #poll.

Tweet: 74% of Americans say #coronavirus has impacted their personal or business decisions, according to @FT & @PGPFoundation polling.

Tweet: Americans are changing their behavior in response to #coronavirus, according to @FT & @PGPFoundation polling.

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